Posts Tagged ‘mortgage brokers’

December has been a very busy month with the legislative and regulatory issues that we had to address. We had to comment on the Federal Reserve Bank proposed change, the Federal Housing Administration’s (FHA’s) proposed change to allow mortgage brokers to originate loans when sponsored by an approved FHA mortgagee, the increase in net worth requirements for FHA mortgagees and the change for ordering FHA appraisals. On the legislative front, both the House and the Senate introduced their proposed legislation regarding Consumer Finance Protection Act (CFPA).Read more

Total Mortgage Services LLC announced that it has received approval from the U.S Department of Housing & Urban Development (HUD) to convert to a Full-Eagle, or non-supervised lender. The company may now originate, fund, hold, purchase and sell Federal Housing Administration (FHA) backed mortgage loans.Read more

We write this as professionals who have had numerous clients in the mortgage broker industry for many years, and as mortgage professionals who are very familiar with the Federal Housing Administration’s (FHA’s) current regulation of the industry. The announcement from the U.S. Department of Housing & Urban Development (HUD) stated that mortgage brokers:Read more

While I am a mortgage banker and have been on both sides of the fence the past 29-plus years, it pains me to think what may happen if mortgage brokers are shut out of the lending business.Read more

Each month, National Mortgage Professional Magazine will focus on one of the industry’s top players in our “Mortgage Professional of the Month” feature. This month, we had a chance to chat with Mat Ishbia, national sales manager for United Wholesale Mortgage. In his role as national sales manager, Mat oversees sales staff, customer acquisition and retention, and all company expansion efforts. His efforts have made United Wholesale Mortgage (UWM) one of the top 10 wholesale lenders in the industry.Read more